NU - 2 Reasons to Buy Nu Holdings Stock Like There's no Tomorrow
2024-05-08 09:00:00 ET
Investors could do far worse than following Warren Buffett's stock picks . He's famous for his long-term approach, investing in iconic businesses long before they became household names. These days, he's not the only one managing Berkshire Hathaway 's portfolio, but you can bet that the rest of his team shares the same investing philosophy.
That's why it's notable that Berkshire currently owns around 107 million shares of Nu Holdings (NYSE: NU) worth roughly $900 million. Berkshire has owned stock in the Latin American digital bank since its initial public offering (IPO) in December of 2021. When shares tanked over the first few months of trading, losing two-thirds of their value, Berkshire didn't sell a single share.
Following these lows, the share price tripled, and still Berkshire isn't selling. It's very likely the firm is a believer in Nu's long-term promise. Let's what could be some of the reasons.
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2 Reasons to Buy Nu Holdings Stock Like There's no Tomorrow